Canara bank is one of the largest and oldest public sector banks owned by the government of india. It’s headquarters at Bengaluru and established in 1906. In June 2006, the bank completed a century of operation in the Indian Banking Industry. Today, Canara Bank occupies a premier position in the committee of Indian Banks.
Canara Bank offers gold loans to help you meet short term needs like medical expenses, wedding in a family or any other contingencies. The interest rate of Canara bank for gold loans starts from 13% per annum.
1. Reasonable rate of interest
Canara bank offers a reasonable rate of interest to the customers to take a gold loan. The interest rate starts from 13% per annum. Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile and the most probably Cibil score. So, there will be a very good chance for the customer to get a gold loan at an attractive and reasonable interest rate.
2. Flexible repayment option :
The minimum repayment tenure of Canara Bank Gold loan is 1 year, so the borrowers can repay the loan within a period of 1 year.
3. Low processing fee :
The Canara Bank charges low processing fees is 1% of the loan amount (Minimum Rs.1000 and Maximum Rs.5000).
4. Minimal paperwork :
Canara Bank gold loan provides less and minimal documentation for the customers. It is not required to submit so many documents for a car loan. The process of documentation is very simple and fast.
1. Processing fee = 1% of the loan amount (Minimum Rs.1000 and Maximum Rs.5000)
2. No foreclosure and part payment charges
1. Applicants should be salaried / self employed with a sufficient source of income.
2. Applicants should have an existing saving bank account with Canara Bank.
3. The purity of eligible gold is 18 karat to 22 karat
4. The cibil score is above 500
5. Individuals without an account need to be introduced by trusted
1. Signed application form
2. 2 passport size photographs
3. ID proof : Aadhar card, PAN card, Voter id, passport
4. Address proof : Aadhar card, Voter id, Passport, Utility bills
5. Post disbursement documents (If any)
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BANKS |
Interest Rate |
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14.50% to 17% |
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11% to 16% |
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10.50% to 17% |
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11.25% to 16.25% |
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10.00% to 19.76% |
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Starting at 10.75% |
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10.50% to 16.00% |
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Starting at 13% |
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10.05% to 11.05% |
1. Offline Method : By visiting the nearest bank branch.
2. Online Method :
First of all visit to Canara Bank web portal
Now click on “personal section”
In “explore products” got to retails
Now click on “Loans”
Now go to “Gold Loan”
Fill the application form and submit it
How to contact with Canara Bank Gold Loan :
1. By customer care contact number : 18004250018
2. By customer care email id : hocancard@canarabank.com
Financials products offered by Bank :
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Canara Bank offers gold loans to help you meet short term needs like medical expenses, wedding in a family or any other contingencies. The interest rate of Canara bank for gold loans starts from 13% per annum.
The minimum loan amount is Rs.10000 and maximum loan amount is Rs.10 lakh provided by Canara Bank for Gold Loan.
The repayment tenure of Canara Bank for gold loan is 1 year. So the borrowers can repay the loan within a period of 1 year.
Yes, the processing fee charged by Canara Bank for gold loan is 1% of the loan amount (Minimum Rs.1000 and Maximum Rs.5000)
The minimum age of the customer is 18 years and the maximum age of the customer is 70 years to get a gold loan from Canara Bank.
Last Updated on : 13/Aug/2020Know More About
You're eligible for a Canara Bank Gold Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Gold Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Canara Bank Gold Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 13% - 0% |
| Processing Fees | 1% of the loan amount (Minimum Rs.1000 and Maximum Rs.5000) |
| Loan Tenure | 1 year to years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
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